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Sanko Marketing Foods swings to profit in fiscal Q2

Sanko Marketing Foods Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was ¥27.5 million, compared with a loss of ¥651.9 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.7% from negative 12.5% in the year-earlier period.

Total revenue fell 26.8% year over year to ¥3.82 billion from ¥5.22 billion, and total operating expenses declined 39.6% from the prior-year period to ¥3.79 billion from ¥6.27 billion.

Reported net income totaled a loss of ¥192.0 million, or a loss of ¥13.35 per share, compared to a loss of ¥2.57 billion in the year-earlier period.

As of Feb. 13, US$1 was equivalent to ¥118.68.